The case for personalizing employee health.
February 8, 2018
If you don’t believe employees value customizable benefits, think again. Research conducted by MetLife found that 74% of employees are more likely to accept a job with a new employer if they get the ability to customize their benefits. Similarly, 72% responded that being able to personalize their benefits would increase their loyalty to the organization.
Standardization fails pretty much everyone
The traditional one-size-fits-all approach to benefits has consistently left many employees feeling underserved and overlooked. For example, a diabetic employee likely considers prescription medication coverage among the most meaningful features of their benefits, while another employee may never require a prescription at all. However, if that second employee is about to become a parent, access to maternal or paternal leave and childcare would instead be their priority. You can probably think of dozens of more examples that would highlight this inequity and underscore the importance of giving employees the ability to choose their benefits.
Cure versus prevention
Another issue with many benefits programs, although this is changing, is their intense preoccupation with treating conditions rather than equipping employees with preventative strategies to avoid getting sick in the first place. That’s not to say managing illness isn’t crucial, but many organizations seem to be forgetting the old adage, “A stitch in time saves nine.” Naturally, healthy employees make fewer healthcare claims than those who are unwell. They’re also less likely to take sick days or come to work when they’re not feeling good. Instead, they’re more efficient, productive, and, most importantly, they have an improved sense of well-being.
A wellness program that teaches staff to develop and maintain healthy life habits will end up saving the company money. One Gallup poll calculated that staff members who have high overall well-being incur 62% lower expenses compared to employees who don’t. The best way to achieve these savings is to provide each employee with individualized tools that will make the maximum difference in their lives.
Strategies for personalizing employee benefits
You might be thinking individualized employee care sounds expensive, but it’s not. Thanks to the ubiquity of smart devices, you can provide more resources to more employees than ever before. And you don’t even have to lift a finger. Digital employee well-being platforms like LifeSpeak provide a fully turnkey solution for HR teams who want a simple yet robust program. Here are some of the key advantages:
- Digitized resources can be distributed anytime, anywhere so employees can access them whenever they need.
- It’s very easy to update these resources to ensure the information stays current and accurate.
- Employers can offer a more holistic program to staff by adding information on mental health, personal finance, relationships, parenting, etc.
- Content can be disseminated in a variety of formats (ex: videos, podcasts, or PDFs) to accommodate disabilities and suit employees’ preferences.
- Employees can receive individualized feedback to help guide them toward a healthier lifestyle.
- Advocating for the health of each employee engenders greater trust and loyalty among staff.
Let us help you support your employees
With over seven million global users, we have a solid grasp on providing a personalized experience to a large population. We believe employees do their best work when they aren’t distracted by challenges in their personal lives, so we strive to help them address any and all issues they might be dealing with. As such, our library contains thousands of resources from renowned experts on all kinds of subjects, from physical and mental health to childcare and relationships. To learn more, book a free demo today.